SandRidge CEO Ousted, Gets $90 Million Exit Pay

By

Ryan Dezember and

Daniel Gilbert

Updated June 19, 2013 9:08 p.m. ET

SandRidge Energy Inc. on Wednesday ousted Chief Executive Tom Ward after dissident investors pushed for his removal. But the founder's fall is being cushioned by about $90 million, one of the larger severance packages seen in the energy industry.

Mr. Ward's departure wasn't a surprise. SandRidge came under fire last year from activist investors for Mr. Ward's high pay, a weak stock performance and its dealings with businesses...